crude hit record highs – fuel oil market analysis – FO LDO price prediction

crude flat prices are rising on worsening Hormuz crisis. Prices continue to soar on intensifying conflict ahead of Trump deadline for Iran to open SoH. WTI-Brent spread widening over higher prices of WTI barrels. Unusually, Spot premiums for WTI crude surging to record highs as Asian and European refiners scrumbling to replace ME supply. On Sunday, OPEC+ agreed to open spigots to raise their May oil output quotas by 206,000 bpd. Turning to technicals, Investors remain bullish over Brent over no signs of ending conflict. Hedge funds and other money managers purchased the equalent of 22Mb in Brent F&O over the seven days ending on March 31st.

FUEL OIL MARKETS

HSFO prices show strong recovery and stability, supported by tight heavy crude supply and steady industrial demand. VLSFO remains range-bound with limited upside, pressured by higher inventories and adequate supply flows. The market indicates a divergence trend, where HSFO is outperforming VLSFO in recent sessions. Overall, the fuel oil market is stable with a slight bullish bias led by HSFO strength.